Global Telecom Holdings delisted from Egypt's Stock Exchange

Global Telecom Holdings (GTH), which operates Djezzy in Algeria, has been delisted from the Egyptian Stock Exchange while shareholders in VEON yesterday approved the company's acquisition of all of GTH's operating assets, which include also encompass networks in Bangladesh and Pakistan.

This finalises VEON's acquisition of the interests it did not previously hold in GTH.

According to VEON, the Egyptian Exchange published a Delisting Decree for Global Telecom Holding and as a result, "GTH's shares are expected to be delisted from the EGX at the end of (yesterday's) trading" session.

Ursula Burns, VEON's chairman and chief executive officer said this development now "enables us to embark on a comprehensive restructuring of GTH" with the aim of further simplifying the company structure.